Asian Americans More Concerned About Retirement Savings Risks Than Other American Retirees And Pre-Retirees, MassMutual Study Finds

By a News Reporter-Staff News Editor at Investment Weekly News -- Asian Americans are more concerned about making missteps with their retirement savings in the years just before and just after retirement, yet are more confident and focused about their investments than other retirees and pre-retirees, new research from Massachusetts Mutual Life Insurance Co. (MassMutual) finds.

Asian American retirees and pre-retirees worry more than other Americans about taking too much risk (69 percent vs. 44 percent) or making a poor investment decision (67 percent vs. 54 percent) within 15 years before or after retirement, according to the MassMutual Asian American Retirement Risk Study1. Asian American pre-retirees (75 percent) are especially concerned about taking too much investment risk, the study shows.

"While many Americans focus on being ready to retire, no other ethnic group that we've surveyed is as focused on their financial goals as Asian Americans," said Wonhong Lee, Head of MassMutual's Diverse Markets. "And these findings are actually aligned with other studies we have conducted in the past, as the key driver for this community is to attain financial security in every key milestone in life, such as paying for their children's education or retiring in comfort without being a burden to their children."

Keywords for this news article include: Asia, MassMutual, Finance and Investment.

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